The October 12 print edition of the prestigious international and widely-read weekly UK journal, The Economist, has this article about FATCA, also on this web link
The Economist: Expats and tax — Loopy Tax Rules Spur Expats to Renounce their American Citizenship: Overtaxed and over there
Good and balanced article. So much for the Treasury’s Stack of Lies. It will be impossible for the US to ignore this one.
Happy (Canadian) Thanksgiving, everyone! (Not you, Stack and Obama …)
It’s good to see a lot of this coverage and things picking up as far as informing the world as to the issues with FATCA.
Thanks Ed for your Thanksgiving wishes and I wish you all the same!
Leave the US and be punished. So much for life, liberty and the pursuit of happiness.. those things only apply when the government allows it.
The Economist has traditionally been very sympathetic towards the plight of American expats. Many of the comments at the bottom of the article are sympathetic as well.
BBC, Economist, WSJ etc. — the injustices against Americans abroad are finally getting into the mainstream media. We just gotta keep plugging along at spreading the word.
The on line version appears to allow comments (although I did not see any). This would be a great opportunity to add further examples and details of the horrors of CBT and FATCA from Brockers.
There are in fact comments on the Economist article, most of the early ones I saw I recognized as Brockers or Sandboxers. There is a link down there somewhere …
We are indeed on a media roll, let’s keep it rolling! The demo on the Hill on October 16 (OUR Hill in Ottawa, not the manure pile in Washington) is another media op, we hope.
Thanks – I posted a comment as DualUSAbroad
I added my 2 cents worth to The Economist comments which are all very good. (I wonder when you-know-who-with-many-monikers will copy & paste one of his standard retorts.) Anyway, this has been a good day, media-wise and, like Schubert and others, I am really looking forward to the Oct. 16th rally which hopefully will produce more good media coverage. Atticus is kindly taking Mr. Em and me to the rally via photo spirit. If you get a “Not A Myth” photo to her in time she might just do the same for you. (E-mail a small file JPG to her at email@example.com so it can be posted at http://we-are-not-a-myth.tumblr.com/)
This Economist article also appears in the Chicago Tribune: http://www.chicagotribune.com/business/chi-nsc-expats-and-tax-overtaxed-and-over-there-20131010,0,6111892.story, although there is a disclaimer that “Premium content is currently available only to users within the United States.”
Maybe you-know-who-with-many-monikers is on furlough.
This article has also been posted here:
However, Americans living abroad are prohibited from reading it. chicagotribune doesn’t like American expats.
@calgary411, oh, I just noticed that you discovered that before me! 🙂
@Em, American internet warriors are not paid during the government shutdown.
Now if the media can only start asking: “Since when is parentage or birthplace a ‘taxable event’?”
Looks like the Drapetomania virus has spread to Sweden
I thought the article was a breath of fresh air. Added my own comment about US persons with a net worth in excess of $2m, of which there may be many in the UK because of the value of residential property here. These “rich” US persons garner little sympathy, but their expatriation could cost more than $450 and the treatment of them shows Congress at its most arrogant and evil. That is because the heartache for them is the potential tax on their US citizen children who inherit from them sometime perhaps decades from now.
It is so pleasing to see some of these issues in the mainstream.
@ brockers….perfect media storm next Wed 16th oct in canda.. I wish wish wish UK would do the same… any takers? would provide behind the scenes support. 🙂
re: The Economist comments — Looks like you-know-who-with-many-monikers did not go on furlough. Why in the world would the USG think his job is an essential service? Oh wait, the whole idea of shut-downs is to tick off Americans (national park closures, threaten SS cheques, etc.) so this is completely consistent with the USG’s twisted thinking. Oh well, 99.9% of the comments are 100% on the mark.
@ crystal london
How about an American Guy Fawkes Day in London to protest FATCA? It’s not the man as much as the spirit of the man which captures the imagination.
jlibor recently posted this:
“I have just received a US work visa as an Alien with Extraordinary Ability, but wonder why I should bother to enter the US. I have already paid 12,000 dollars just to get advice in order to avoid penalties as I want to be compliant. I will now have to pay another large sum to be compliant and then pay roughly 10,000 dollars each year to file my tax returns…and lose a ton of investment returns as I will be double taxed for my non-US investments. One truly needs Extraordinary Abilities to deal with all this nonsense. The end result will be that I will leave the US as soon as is reasonable which is a shame as I truly love the US (and my US wife!).”
America’s tax laws are repelling the world’s best and brightest from being anything more than temporary workers, even though they would rather do otherwise.